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Leaders voice support for low pay rises

Andrew Clark

July 15 2015, 1:01am, The Times

An overwhelming majority of business leaders backed George Osborne’s increase to the minimum wage in a straw poll at yesterday’s summit, though a handful criticised the government for dictating to companies on pay.

Asked to vote yesterday on the chancellor’s target of introducing a “living wage” of £9 an hour within five years, 79 per cent of those present, largely leaders of FTSE 100 or FTSE 250 companies, said that it was “the right thing to do”, while 10 per cent described themselves as neutral and 10 per cent opposed to the rise.

One objector was Jonathan Lander, the chief executive of Volvere, an investment company that specialises in turning around troubled businesses.

“It will increase unemployment,” Mr Lander said. He said that his company…